Serba Dinamik Annual Report 2021

Registration No: 201501042584 (1167905-P) Serba Dinamik Holdings Berhad (Incorporated in Malaysia) 148 40. Subsequent events (continued) 40.2 Default in interest payment for USD Sukuk (Islamic) On 15 December 2021, the Company has announced that SDIS, a wholly-owned subsidiary of SDIL, which in turn is a wholly-owned subsidiary of the Company, has defaulted in its payment of interest amounted to USD6,499,962 due on 9 December 2021 pursuant to the USD Sukuk. SDIS is unable to meet its obligation to pay the interest in a timely manner due to cash flow constraints of the Company. This constraint is due to COVID-19 pandemic which has resulted in unfavourable condition in the operation of the Company. 41. Comparative figures (a) The comparative figures are derived from financial statements audited by a firm of chartered accountants other than Nexia SSY PLT. (b) During the financial period, the Company changed its financial year end from 31 December 2020 to 30 June 2021. Accordingly, the comparative figures for the statements of comprehensive income, statements of changes in equity, statements of cash flows and the related notes are for twelve months from 1 January 2019 to 31 December 2019 and are therefore not comparable.